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Just Question 5 please. Problem 14-2A Allocating bond interest and amortizing a bond discount LO4, 5 Banjo Education Corp. Issued a 4%,$100,000 bond that pays
Just Question 5 please.
Problem 14-2A Allocating bond interest and amortizing a bond discount LO4, 5 Banjo Education Corp. Issued a 4%,$100,000 bond that pays Interest semlannually each June 30 and December 31 . The date of Issuance was January 1, 2023 . The bonds mature after four years. The market interest rate was 6%. Banjo Education Corp.'s year-end Is December 31. Use TABLE 14A.1 and TABLE 14A.2 (For all the requirements, Use approprlate factor(s) from the tables provided.) Required: Preparation Component: 1. Calculate the issue price of the bond. (Round the final answer to the nearest whole dollar.) 2. Prepare a general journal entry to record the Issuance of the bonds. (Do not round Intermedlate calculations. Round the final answers to the nearest whole dollar.) 3. Determine the total bond interest expense that will be recognized over the life of these bonds. (Do not round Imtermedlote calculatlons. Round your answer to the nearest whole dollar.) 4. Prepare the first two years of an amortization table based on the effective interest method. (Do not round intermediete calculations. Round the final answers to the nearest whole dollar. Enter all the amounts as positive values.) 5. Present the journal entries Banjo would make to record the first two Interest payments. (Da not round Imtermedlate calculotions. Round the final enswers to the nearest whole dollar.) Journal entry worksheet Record the six months' interest and discount amortization. Note: Enter debits before creditsStep by Step Solution
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